Tawana Resources’ proposed merger with Alliance Mineral Assets, first announced in April, has been given the go ahead by the Australian Government.
The two companies are joint venture partners at the Bald Hill lithium-tantalum mine in the Eastern Goldfields, Western Australia.
The merger would result in the formation of a new company comprised of roughly 50-50 ownership between Tawana and Alliance; the current plan is for the AU$446 million-valued (US$337.8 million) company to be dual-listed on both the Australian Securities Exchange and Singapore Exchange. The boards of Tawana and Alliance have recommended shareholders to accept the merger.
Alliance has received a “no objection” response from the Australian Treasurer, satisfying a Foreign Investment Review Board approval condition of the scheme implementation agreement between Tawana and Alliance.
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